The Houston Chronicle reports the bill would require
the Teacher Retirement System (TRS) of Texas and the
Employees Retirement System (ERS) of Texas to divest from
foreign companies that do business with the government of
Sudan, supply military equipment to the country or have
significant involvement in the oil business there.
Before divesting, the funds would have 15 months to give the
targeted companies time to quit doing business with the
Sudanese government.

State
Senator Rodney Ellis (D-Houston) told the Chronicle the TRS
has $450 million and the ERS has $50 million invested in
targeted companies, representing less than 1% of the combined
holdings of the two pension funds. Under the bill, the state
comptroller is responsible for preparing the list of targeted
firms.

The unanimously approved bill now goes to the state
House, where a companion bill is pending.